IRA Giving Options

Jul 03, 2019

by unitedwaynca

United Way of the National Capital Area offers many opportunities for leaving a lasting legacy with your philanthropy through planned giving and estate planning.

As a new resource for you, each quarterly newsletter will highlight different planned giving opportunities, including IRA related giving, Charitable Gift Annuities, Donor Advised Funds, gifts of appreciated stock, and bequests through wills and estate plans.

For this quarter’s newsletter, the focus is IRA related giving and there are two main options for your consideration. First, the IRA Charitable Rollover and second, the act of including United Way NCA as the beneficiary of your IRA.

IRA Charitable Rollover:

If you are 70 ½ years or older, you have the option to donate up to $100,000 from your IRA directly to a qualified charity without having to pay income taxes. You can satisfy your required minimum distribution for the year and reduce your taxable income, even if you do not itemize deductions.  This gives you the opportunity to invest in United Way NCA and see the impact today. In the future, your gift will support our Community Commitment to fight for the health, education, and financial stability of every person in our community.

IRA beneficiaries:

To know your legacy is lasting and enduring, consider including United Way NCA as the beneficiary of your IRA. Through simple paperwork with the financial institution holding your IRA, you can designate United Way NCA as the beneficiary. As your estate plans are carried out, United Way NCA would receive the remaining funds in your IRA and through those, continue offering much-needed programming in our community.

One recent example—Mr. Greenspun was a long-time philanthropist with United Way NCA and gave consistently for nearly ten years. As part of his estate planning, Mr. Greenspun designated United Way NCA as the beneficiary of his IRA. After his passing, United Way NCA received the balance of his account, nearly $250,000. We are grateful to Mr. Greenspun for his years of giving, especially for the many years of United Way NCA’s Community Commitment he has funded into the future.

The work we complete on a daily basis is fueled entirely by the passion and commitment from philanthropists like you and we are grateful for your investment. To learn more, please email philanthropy@uwnca.org or call 202-488-2010.

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